IDB Invest, which is part of the Inter-American Development Bank (IDB) and works with private companies, has raised $750 million by selling a bond under its Global Debt Program. A bond is basically a loan investors give to an organization, and in return, they get interest over time. This bond will last for 2.5 years, and it pays 3.625 percent interest every six months. The price of the bond was set at a...
Barbados is poised to make history with the launch of the world’s first vehicle powered by renewable natural gas (RNG) derived from Sargassum seaweed, Blackbelly sheep manure, and rum distillery wastewater. This innovative project, a result of over a year of research by the University of the West Indies at Cave Hill, marks a major step in renewable energy development. The initiative, spearheaded by...
First Hotel Set to Open in the Dominican Republic in 2026 Sonesta International Hotels Corporation has unveiled plans to significantly expand its presence in the Caribbean, announcing a deal to open five new Sonesta ES Suites properties in the Dominican Republic. This move forms part of the company's broader strategy to grow its footprint in Latin America. The first of these properties, an 80-room...
A group of 82 hospitality professionals from Barbados, including general managers and human resource staff, successfully completed a series of intensive workshops aimed at enhancing guest services. Sponsored by the Sandals Foundation and organized by the Caribbean Hotel & Tourism Association Education Foundation (CHTAEF), the workshops took place at Island Inn and marked the first post-pandemic visit...
Barbados is experiencing a major boost in its tourism sector as hotels and resorts undergo extensive renovations and rebranding efforts to enhance the island's appeal throughout the year. The Barbados Hotel and Tourism Association (BHTA) reports a transformation in the island’s tourism landscape aimed at attracting visitors year-round. Ryan Forde, BHTA Chief Executive Officer, highlighted the...
The Strand Turks and Caicos, a premier luxury resort community situated along 2,230 feet of pristine oceanfront in Providenciales, is gearing up for its grand opening on November 23, 2024. With limited availability, this highly anticipated resort promises to redefine exclusivity in the Caribbean, offering a blend of luxurious accommodations, world-class amenities, and unforgettable experiences that...
The Barbadian government is addressing long-standing concerns about the ease of doing business in the country with several new initiatives, according to Minister of Energy and Business, Senator Lisa Cummins. During the launch of Global Business Week 2024, Senator Cummins outlined key strategies aimed at simplifying business processes, modernizing outdated legislation, and making the island more...
One of the leading law firms in Barbados, Clarke Gittens Farmer, has rebranded itself as CGF, marking a major step forward in its evolution. This rebranding includes a fresh new logo, a modern website, and a strategic move to a ".law" domain, underscoring the firm's commitment to leadership in the Caribbean legal landscape. Central to this rebranding is the establishment of CGF Advisory Services Ltd, a...
Amid growing concerns about rising temperatures on the island, Solar Dynamics Ltd., a long-established renewable energy company in Barbados, has introduced a cost-effective solution to combat the sweltering heat: solar-powered air conditioning units. Known for its innovative solar water heating systems since 1974, Solar Dynamics continues to expand its portfolio with these new sustainable cooling...
BWH Hotels, the global hospitality giant known for brands like Best Western and SureStay Hotels, has been making significant strides in expanding its presence across the Caribbean. This includes newly opened properties in Aruba and Curaçao, with a robust pipeline of additional hotels set to launch throughout the region. In an interview with Caribbean Journal Invest, Bill Clegg, Regional Director of...